200 Industrial Way West in Eatontown — Courtesy: Zimmel Associates
By Joshua Burd
A packaging company has leased more than 31,000 square feet of industrial space in Eatontown, under a transaction arranged by Zimmel Associates.
The brokerage firm represented Denholtz Acquisition LLC, the owner of 200 Industrial Way West, in the transaction with Steron Packaging. The tenant, which is locally based, will use the building to package hand sanitizers after recently entering into a contract with the government as part of its response to the coronavirus pandemic.
David Zimmel of Zimmel Associates completed the 10-year lease on behalf of ownership, while Sitar Realty represented the tenant in the 31,418-square-foot transaction.
“Considering the challenges in this environment and the conditions in the marketplace, we were thrilled to find a tenant providing an essential service for the government,” Zimmel said. “The space was perfect for them, everyone was happy.”
The deal comes six months after Denholtz acquired the building and follows a series of renovations, including new paint throughout the property. The building features 24-foot ceiling heights, tailboard loading and heavy power.
